Eiffage SA (EFGSY) AI Stock Analysis

• Market Cap: $16.49B
• Dividend Yield: 2.54%
• Average Volume (3M): 334.00
• Price to Earnings (P/E): 13.9
• Beta (1Y): 0.24
• Revenue Growth: 8.31%
• EPS Growth: -2.44%
• Country: US
• Employees: 84,400
• Sector: Industrials
• Sector Strength: 72
• Industry: Engineering & Construction
• EPS (TTM): 1.80
• Shares Outstanding: 490,000,000
• 10 Day Avg. Volume: 650
• 30 Day Avg. Volume: 334
• PEG Ratio: -2.73
• Price to Book (P/B): 1.45
• Price to Sales (P/S): 0.43
• P/FCF Ratio: 4.02
• Enterprise Value/Market Cap: 1.51
• Enterprise Value/Revenue: 0.96
• Enterprise Value/Gross Profit: 2.01
• Enterprise Value/Ebitda: 6.00
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: $38.00 ▲(29.65% Upside)
• Action: Downgraded Date: 02/27/26
• Date: Action: Downgraded 02/27/26

The score is driven primarily by solid underlying financial performance (notably strong free cash flow and steady revenue growth) despite meaningful balance-sheet leverage. Technicals show a strong trend but are overbought, while valuation looks reasonable and earnings-call guidance supports continued momentum amid notable France-specific headwinds and tax impacts.

Positive Factors

Strong cash generation

Consistent positive operating and free cash flow across 2020–2025 with a notable step-up in 2025 provides durable internal funding for capex, bid bonds and concessions. This reduces reliance on external financing and supports investment and dividend capacity through construction cycles.

Growing order book & Europe momentum

A EUR 29.5 billion order book and strong European growth (+17.4%) deliver multi-year revenue visibility and geographic diversification. This backlog supports stable revenue conversion and reduces reliance on the weaker French market, underpinning medium-term demand and planning.

Diversified concession and services model

A diversified model across construction, concessions, energy and maintenance creates multiple cash streams: long-term concession tolls and PPP revenues provide recurring income while energy and services growth smooths project cyclicality and enhances resilience over time.

Negative Factors

High leverage

Sustained debt around 2.5x equity constrains financial flexibility in a capital-intensive, cyclical sector. High leverage increases refinancing and interest risk, limits ability to absorb project overruns, and constrains opportunistic M&A or capex during downturns.

Exceptional tax headwind in France

A large, one-off corporate tax charge materially reduced net profit and cash available for stakeholders. Even if exceptional, such fiscal burdens amplify earnings volatility and weaken debt metrics, especially given existing leverage and exposure to the French market.

Modest and variable margins

Relatively low net margins and variability limit free cash build-up and buffer capacity. Modest profitability on large revenue bases reduces margin for error on projects, makes returns more sensitive to cost inflation, and constrains rapid deleveraging.

Eiffage SA Business Overview & Revenue Model

Company Description

Eiffage SA engages in the construction, infrastructure, energy systems, and concessions businesses in France and internationally. The company's Construction segment offers urban development, building design and construction, property development, and maintenance and facilities management services for public and private-sector customers. Its Infrastructure segment is involved in the civil engineering, road and rail design and construction, drainage, earthworks, and metallic construction. The company's Energy Systems segment designs, constructs, integrates, operates, and maintains of energy and telecommunication systems and installations. Its Concessions segment finances, designs, builds, maintains, and services motorways and other large infrastructure projects, public facilities, and buildings and urban developments, as well as operates toll structures under concessions and public-private partnerships. The company was incorporated in 1920 and is headquartered in Vélizy-Villacoublay, France.

How the Company Makes Money

Eiffage generates revenue primarily through its construction and concessions activities. The company undertakes large-scale projects, including building infrastructure such as roads, bridges, and railways, which are typically funded through government contracts and private partnerships. Key revenue streams include construction contracts, public-private partnerships (PPPs), and maintenance services. Eiffage also benefits from long-term concessions, where it operates and maintains infrastructure facilities, leading to a steady income stream. Additionally, the company leverages its expertise in renewable energy projects to tap into the growing demand for sustainable energy solutions, further diversifying its revenue sources. Collaborations with government entities and other private firms enhance its project portfolio and financial stability.

Eiffage SA Financial Statement Overview

Summary

Strong and consistently positive free cash flow with steady multi-year revenue growth supports a solid operating profile. This is tempered by persistently high leverage (debt roughly ~2.5x equity in 2022–2024) and modest, somewhat variable profitability.

Income Statement

Revenue has expanded steadily from 2021–2025 (with a dip in 2020), including strong acceleration in 2025. Profitability is stable and improving versus 2020, with net profit margins generally in the ~4–5% range in recent years and EBIT/EBITDA margins holding around low-teens/high-teens in 2021–2024. The key watch-out is that profitability remains modest for the level of revenue and shows some year-to-year variability, including slightly lower net income in 2025 versus 2024 despite higher sales.

Balance Sheet

The balance sheet is functional but leveraged: total debt remains high and runs at roughly ~2.5x equity in 2022–2024, which can limit flexibility in a cyclical, project-driven industry. Equity has been building over time (up from 2020–2025), and returns on equity have been consistently solid in the mid-teens in 2021–2024, signaling decent profitability on the capital base. Overall, the main weakness is the persistently heavy debt load relative to equity.

Cash Flow

Cash generation is a clear strength: operating cash flow and free cash flow are consistently positive from 2020–2025, and free cash flow has generally trended upward with strong growth in 2023 and a large step-up in 2025. Free cash flow conversion is reasonable (free cash flow below operating cash flow, but still robust), supporting reinvestment and financial flexibility. The primary concern is some variability year to year (e.g., operating cash flow down in 2025 vs. 2024 even as free cash flow stayed strong), which can occur in construction due to working-capital swings.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	25.09B	24.04B	22.37B	20.87B	19.20B
Gross Profit	3.24B	20.10B	18.42B	2.65B	2.27B
EBITDA	4.03B	4.05B	3.86B	3.41B	3.09B
Net Income	981.66M	1.04B	1.01B	896.00M	753.00M
Balance Sheet
Total Assets	40.92B	40.31B	37.83B	36.20B	33.70B
Cash, Cash Equivalents and Short-Term Investments	5.95B	6.10B	5.01B	4.82B	4.87B
Total Debt	16.76B	16.70B	15.98B	15.94B	15.32B
Total Liabilities	32.03B	32.15B	29.88B	28.77B	26.98B
Stockholders Equity	7.50B	6.72B	6.46B	6.18B	5.49B
Cash Flow
Free Cash Flow	2.71B	2.77B	2.46B	1.96B	1.70B
Operating Cash Flow	3.33B	3.71B	3.32B	2.95B	2.70B
Investing Cash Flow	-1.93B	-1.51B	-1.22B	-2.31B	-910.00M
Financing Cash Flow	-1.57B	-1.07B	-1.90B	-737.00M	-2.13B

Eiffage SA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.31
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For EFGSY, the sentiment is Positive. The current price of 29.31 is below the 20-day moving average (MA) of 32.47, below the 50-day MA of 30.26, and above the 200-day MA of 27.67, indicating a bullish trend. The MACD of 1.27 indicates Negative momentum. The RSI at 75.29 is Negative, neither overbought nor oversold. The STOCH value of 85.87 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for EFGSY.

Eiffage SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
STRL	76 Outperform	$13.26B	46.19	30.28%	―	6.20%	72.81%
MTZ	74 Outperform	$24.03B	60.03	12.93%	―	12.99%	274.10%
TTEK	72 Outperform	$9.39B	26.88	19.90%	0.74%	4.69%	-24.37%
APG	71 Outperform	$19.41B	-59.13	9.50%	―	10.69%	―
EFGSY	69 Neutral	$16.49B	13.89	13.90%	2.54%	8.31%	-2.44%
ACM	69 Neutral	$12.58B	22.49	27.11%	1.06%	0.21%	53.80%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%